{"id":1440,"date":"2014-11-11T14:41:43","date_gmt":"2014-11-11T19:41:43","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1440"},"modified":"2014-11-11T14:41:43","modified_gmt":"2014-11-11T19:41:43","slug":"early-signs-of-a-pullback-in-drilling-activity","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1440","title":{"rendered":"Early Signs Of A Pullback In Drilling Activity"},"content":{"rendered":"<p><a href=\"http:\/\/oilprice.com\/Energy\/Energy-General\/Early-Signs-Of-A-Pullback-In-Drilling-Activity.html\">Early Signs Of A Pullback In Drilling Activity<\/a>.<\/p>\n<p style=\"font-weight: inherit; font-style: inherit; font-size: 1em; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px 0px 1em 0px; border: 0px initial initial;\">With oil prices low and showing no sign of an immediate rebound, the industry is beginning to pull back on spending.<\/p>\n<p style=\"font-weight: inherit; font-style: inherit; font-size: 1em; font-family: inherit; vertical-align: baseline; padding: 0px; margin: 0px 0px 1em 0px; border: 0px initial initial;\">Oil prices have dropped around\u00a0<a style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #24606c; text-decoration: underline; outline-style: none; outline-width: initial; outline-color: initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/www.reuters.com\/article\/2014\/11\/09\/energy-capex-stocks-idUSL6N0SW3VP20141109\">30 percent<\/a>\u00a0since summer highs, raising fears among producers across the globe. Yet, many oil majors are relatively diversified, with large holdings downstream. For example, ExxonMobil and Chevron have been insulated in the third quarter because of their large holdings in refining. Steep declines in oil prices may hurt their production sectors, but with lower priced oil as an input, big oil\u2019s refining assets become more profitable.<\/p>\n<p><span class=\"Apple-style-span\" style=\"color: #393939; font-family: Arial, Tahoma, Verdana, Helvetica, sans-serif; font-size: 14px; line-height: 20px;\"><\/span><span class=\"Apple-style-span\" style=\"color: #393939; font-family: Arial, Tahoma, Verdana, Helvetica, sans-serif; font-size: 14px; line-height: 20px;\">For the third quarter, ExxonMobil reported a\u00a0<a style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #24606c; text-decoration: underline; outline-style: none; outline-width: initial; outline-color: initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/www.nytimes.com\/2014\/11\/01\/business\/energy-environment\/exxon-mobil-and-chevron-report-3Q-earnings.html\">3 percent rise in earnings<\/a>\u00a0compared to quarter three in 2013. That was largely driven by the Texas-based oil giant\u2019s\u00a0<a style=\"font-weight: inherit; font-style: inherit; font-size: 14px; font-family: inherit; vertical-align: baseline; color: #24606c; text-decoration: underline; outline-style: none; outline-width: initial; outline-color: initial; padding: 0px; margin: 0px; border: 0px initial initial;\" href=\"http:\/\/www.nytimes.com\/2014\/11\/01\/business\/energy-environment\/exxon-mobil-and-chevron-report-3Q-earnings.html\">refining assets<\/a>, which saw its profits rise by more than 70 percent from $592 million to $1.02 billion. Chevron\u2019s refining program succeeded in quadrupling its profits in the third quarter, more than offsetting the hit the company has taken from the slide in oil prices.<\/span><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Early Signs Of A Pullback In Drilling Activity. With oil prices low and showing no sign of an immediate rebound, the industry is beginning to pull back on spending. Oil prices have dropped around\u00a030 percent\u00a0since summer highs, raising fears among producers across the globe. Yet, many oil majors are relatively diversified, with large holdings downstream. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[129,1041,1019,594],"class_list":["post-1440","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-chevron","tag-exxonmobil","tag-oil-drilling","tag-oil-prices"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1440"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1440\/revisions"}],"predecessor-version":[{"id":1441,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1440\/revisions\/1441"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}